(CercleFinance.com) – Morgan Stanley Energy Partners announced the closing of the sale of Durango Permian to a subsidiary of Kinetik Holdings, in return for a combination of cash and stock as well as contingent payments related to a Durango Permian gas gathering and processing project called ‘Kings Landing’.
Durango Permian, specializing in the collection, processing of gas and sequestration of CO2 in the Permian basin of New Mexico, was until now majority owned by funds from Morgan Stanley.
The Durango manager welcomed this sale which comes after five years of growth and fruitful partnership.
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